Cookson Peirce & Co. Inc. Makes New Investment in Jabil, Inc. (NYSE:JBL)

Key Points

• Cookson Peirce & Co. Inc. invested approximately $9.28 million in Jabil, acquiring 68,231 shares and holding 0.06% of the company as of the latest quarter.
• Jabil's recent earnings report indicated a 15.7% increase in revenue compared to the previous year, with an EPS of $2.55, exceeding forecasts.
• The company has announced a $0.08 dividend to be paid on September 3rd, with an expected yield of 14.0% for shareholders.

Cookson Peirce & Co. Inc. bought a new stake in Jabil, Inc. (NYSE:JBL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 68,231 shares of the technology company's stock, valued at approximately $9,284,000. Cookson Peirce & Co. Inc. owned 0.06% of Jabil at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Lord Abbett & CO. LLC purchased a new stake in shares of Jabil during the 1st quarter valued at about $81,378,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Jabil by 7.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,060 shares of the technology company's stock valued at $2,593,000 after purchasing an additional 1,300 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Jabil by 76.8% during the first quarter. Neuberger Berman Group LLC now owns 15,219 shares of the technology company's stock worth $2,071,000 after purchasing an additional 6,612 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Jabil by 112.6% in the 1st quarter. Russell Investments Group Ltd. now owns 363,002 shares of the technology company's stock valued at $49,394,000 after buying an additional 192,278 shares during the last quarter. Finally, Prudential PLC purchased a new stake in Jabil during the 1st quarter worth approximately $506,000. Hedge funds and other institutional investors own 93.39% of the company's stock.

Jabil Price Performance

NYSE JBL opened at $219.18 on Thursday. The company has a 50-day moving average price of $212.70 and a two-hundred day moving average price of $172.03. Jabil, Inc. has a 52 week low of $99.67 and a 52 week high of $232.84. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. The company has a current ratio of 0.98, a quick ratio of 0.64 and a debt-to-equity ratio of 1.85.

Jabil (NYSE:JBL - Get Free Report) last posted its earnings results on Tuesday, June 17th. The technology company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.28 by $0.27. Jabil had a return on equity of 60.19% and a net margin of 2.02%. The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.03 billion. During the same period last year, the firm earned $1.89 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Jabil, Inc. will post 8.05 EPS for the current year.

Jabil Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a $0.08 dividend. This represents a yield of 14.0%. The ex-dividend date is Friday, August 15th. Jabil's dividend payout ratio is 6.21%.

Insider Transactions at Jabil

In related news, EVP Frederic E. Mccoy sold 4,500 shares of Jabil stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $223.55, for a total transaction of $1,005,975.00. Following the transaction, the executive vice president directly owned 124,203 shares of the company's stock, valued at $27,765,580.65. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 13,432 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $223.11, for a total transaction of $2,996,813.52. Following the completion of the sale, the director owned 86,396 shares in the company, valued at approximately $19,275,811.56. This trade represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 332,847 shares of company stock valued at $66,534,847 over the last three months. 1.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on JBL shares. JPMorgan Chase & Co. increased their price objective on shares of Jabil from $214.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays boosted their target price on shares of Jabil from $206.00 to $223.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. UBS Group raised their price target on shares of Jabil from $157.00 to $208.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Jabil from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $230.00 target price (up previously from $170.00) on shares of Jabil in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $231.71.

Jabil Profile

Jabil Inc provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA).

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